REG - Satsuma Tech PLC - Purported Requisition Notice

Satsuma TechnologyAnnouncement

28/01/2026 16:15

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RNS Number : 7861Q  Satsuma Technology PLC  28 January 2026

28 January 2026

Satsuma Technology PLC

('Satsuma' or the 'Company')

Purported Requisition Notice

Satsuma Technology PLC (LSE: SATS) announces that it has received a purported
requisition notice ("the Notice") from Shard Capital, requesting the Company's
board of directors (the "Board") to convene a general meeting ("Requisitioned
GM") under section 303(1) of the Companies Act 2006.

The Notice sets out four Ordinary Resolutions (the "Resolutions") to be
proposed at the Requisitioned GM:

1.   Immediate termination of the appointment of Henry Elder as a director
and officer of the Company;

2.   Immediate termination of appointment of Andrew Smith as a director and
officer of the Company;

3.   Immediate appointment of Nicholas Lee as non-executive director and
officer of the Company; and

4.   Immediate appointment of Paddy Dean as non-executive director and
officer of the Company.

The Notice states that it has been signed by shareholders representing 49.3%
per cent. of the Company's issued share capital and that these shareholders
have undertaken to vote in favour of the above resolutions at the
Requisitioned GM. The Board notes that no information has been provided to
them on either Nicholas Lee or Paddy Dean.

The Board is currently consulting its advisers to determine, inter alia, the
validity of the Notice and is verifying the percentage of shareholders who
have signed it and given the undertakings. A further announcement will be made
in due course.

Shareholders are advised to take no action at this time.

Ranald McGregor-Smith, Chair, commented:

"We view the actions of the requisitionists as unnecessary, a distraction from
a number of strategic initiatives that have commenced since becoming the first
BTC company to obtain a full listing, and not in the best interests of the
Company. We remain fully supportive of both Henry and Andy and I will be
engaging with shareholders in due course."

 

 Satsuma Technology PLC                                               via Data Counsel

 Data Counsel

 Steffan Williams                                                     satsuma@datacounsel.uk (mailto:satsuma@datacounsel.uk)

 William Barker

 

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